This article only represents the author's own views.
After years of dominance by the duo of Alibaba (BABA.US; 9988.HK) and JD.com (JD.US; 9618.HK), China suddenly has a new top kid on its e-commerce block.
PDD Holdings Inc. (PDD.US) has emerged as the new favorite in that fiercely competitive landscape, after surpassing a slumping Alibaba in terms of valuation last week. As of Thursday’s market close, PDD was the leader with a value of $186 billion, just ahead of Alibaba’s $185 billion and well in front of JD.com’s $42 billion. The watershed moment capped years of stellar performance by PDD, better known in China as Pinduoduo.
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